ED Magedson – Founder
Cogo Capital LLC23332 Mill Creek Drive, Suite 260 Laguna Hills, California USA
Cogo Capital LLC Affiliate of Private Money Exchange Mortgage Loan Ripoff Laguna Hills California
I was referred to COGO Capital from Private Money Exchange and was promised a hard money loan on commercial properties within 5 Days. I was given an approval letter of commitment shortly thereafter. Paid a $1650.00 appraisel. The loan was an asset based loan at 50% of the appraisel value. several months later I have still recieved no loan commitment and one stipulation after another.
Cogo needs to fire their underwriter for they certainly do not know what they are doing. The requests they asked for were totally rediculous and to date, I still do not have a loan. I started the loan in March, 2013.
Avoid this company like the plague. They are very unprofessional and certainly do not know what they are doing. My loan representative tried evreything she could, however, their underwriter is definitely out of their league.
I also had 4 to 5 private Money Exchange sales personnel call me and want me to invest $25,000 to be a part of their inner circle and get my deals funded first. I believe the whole thing is a scam.
This report was posted on Ripoff Report on 08/28/2013 04:21 AM and is a permanent record located here: http://www.ripoffreport.com/reports/cogo-capital-llc/laguna-hills-california-92653/cogo-capital-llc-affiliate-of-private-money-exchange-mortgage-loan-ripoff-laguna-hills-ca-1079699. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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